January Market Update

By: Mark Stern, BA | Keith Myrick

January Market Update

Tags: January Newsletter

Market Update January 2022   The Toronto real estate market set several records in 2021; 121,712 homes sold, the highest average selling price of $1,095,475, the most Realtors ever (almost 63,000), and the least number of homes listed on the market (3,232). As I predicted, 416 condominium prices rebounded in 2021 with a 16.8% price increase to an average of $730,792, an affordable n...Read More

By: Mark Stern, BA | Keith Myrick

Market Report December 2021

Tags: Market Report December 2021

December 2021,     With 9,017 sales reported, November 2021 became not only the most active November in the history of the Toronto Real Estate Board, but also set a record for the highest average price, $1,163,323, up 21.7% over November 2021. The average sale price year to date as of the end of November is $1,092,212, up 17.5 % since the start of the year.   As we have been pr...Read More

By: Mark Stern, BA | Keith Myrick

November Newsletter

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  November 2021   Dear Friend   Despite a record low inventory of homes available for sale in Toronto, the level of sales reached the second-highest level on record for the month of October. 9,783 homes sold in October, surprising many, not that the demand was so high, but that the demand was met to so great a degree. With the listing inventory remaining so low, prices had nowh...Read More

October Newsletter

By: Mark Stern, BA | Keith Myrick

October Newsletter

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October 2021   Dear Friend,   September marked the transition from the slower summer market to the busier fall market in the in the Greater Toronto Area. Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. September’s 9,046 sales was an increased relative to August and was also  the third mo...Read More

By: Mark Stern

September Newsletter

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September 2021   Dear Friend,   Another strong month of sales as the Toronto Real Estate Board reported the sale of 8,596 homes, at an average price of $1,070,911, up 12.6% over August 2020. The only factor that prevented more sales from taking place was the lack of homes for sale. Only 10,609 homes came on the market in August, 50% less than normal, and of course, without inventory, sal...Read More

By: Mark Stern

August Newsletter

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August 2021,       Dear Friend,   Another busy month of sales as the Toronto Real Estate Board reported the sale of 9,390 homes in July, one of the busiest Julys on record.   Multiple offers continued to be the norm for well-priced properties as the shortage of homes available for sale has not eased. With only 12,551 new properties coming on the ma...Read More

By: Mark Stern

July Newsletter

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July 2021   Dear Friend,   Another great month of sales as Toronto realtors sold 11,106 homes at an average price of $1,089 536. While a lot of statistics are being bandied about such as,” Average price is up 28% over the same time as last year”, these numbers are really not relevant due to the impact of COVID-19 in 2020.   The numbers that are important are the follo...Read More

By: Mark Stern

June Newsletter

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June 2021   Dear Friend,   The Toronto real estate market continues to be extremely active as Board members reported the sale of 11,951 listings. While more listings came on the market, 12,252, they were still not enough to change the market from a sellers’ market. The Toronto real estate board has approximately one month supply of listings to sales and that is going to continue mo...Read More

By: Mark Stern

May Newsletter

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May 2021   Dear Friend,   April’s sales of 13,663 homes set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Despite 20,825 new homes coming on to the market, that was not enough inventory to meet demand, and the average home price increased to $1,064,261, from March’s average price of $1,015,392. &n...Read More

By: Mark Stern

April Newsletter

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April 2021   Dear Friend, We certainly live in strange times! Despite the third wave of the pandemic, the demand for homes has never been greater! March saw 15,652 homes sold in the GTA at an average price of $1097,565. The market was active in all sectors with 45.5% of the homes being detached, 28% being condominium apartments and 18% semi-detached or townhomes. As the competition for hom...Read More